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Discover the benefits of Belfast Equity Release for UK property

Belfast Equity Release

  • Remove money from your home with Belfast Equity Release
  • Not necessary to make regular monthly payments
  • Free valuation from January 2024
  • Use the money for anything you like
  • Continue to live in your own home for as long as you like

How much money can I get?

You can release 60% of your property’s valuation. As an example, if your house is valued at £260000 you can get £156000.

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Concise Finance Customer Reviews

mr-g

Mr G from Kent

I got an interest-only lifetime mortgage and gave my sons £100,000 each so they could put a deposit down on a home. My money made it possible for them to get a very good mortgage deal, especially one son who is not well paid.

david-p-london

David P

With my power of attorney, I got equity release on my father’s house to pay for disability provisions including a lift and a new kitchen.

julia-a

Julia A

My mother has dementia. With my solicitor and my power of attorney, I got equity release on my mother’s house to pay for specialist modifications for her comfort.

RIO

Mrs M from Birmingham

With no broker fees and no lender fees, I got an interest-only retirement mortgage which I pay each month from my private pension. The money released went to my daughter for her wedding and a deposit for her next house. She wanted a family, and her flat was too small.

RIO

Mr Smith from Kendal

My financial advisor told me that I should get equity release and gift money to my 5 children now as it would save a massive amount of inheritance tax.

RIO

Mrs Shaw from Lancaster

I had an interest-only mortgage with Birmingham Midshires. The mortgage had come to the end of its term and they wanted the £127000 back I still owed them. My Santander lifetime mortgage saved me from losing my home and the rate was close to what I paid before.

RIO

Sophie G from Aberdeen

The financial advisor I’ve had for 25 years said I could save inheritance tax by getting £350,000 of equity release. The money was lent at a very low-interest rate close to 2% and competitive with normal mortgages you would get by proving income. I have saved a lot of tax.

RIO

William from London

I was told by my lawyer my inheritance tax bill would be around £250,000. I got a lifetime mortgage to give money to my son and daughter so they could buy bigger homes and we bought a house in the south of France for us all to use as a holiday home.

RIO

Mrs E from London

My mortgage needed to be repaid to the existing lender. I thought I was going to lose my house. Thanks to Concise I got equity release to pay off my mortgage.

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West London Home
Southfields House
Cash tied up in home

Equity Release LTV Percentages

The more elderly you are and the more serious your illnesses you are the more money you can release.

It’s very regular to encounter individuals looking for lump sum lifetime mortgages, monthly payment lifetime mortgage or monthly payment equity release, however, the Telegraph like Fortify Insurance Solutions are keen to see paperwork to show your personal circumstances in the form of bank statements.

The mortgage lender will want to know if the property is a Detached freehold house or a Leasehold flat with share of freehold and if the resident is an Assured shorthold tenancy tenant.

UK Equity Release Scheme Providers

  • Legal and General
  • Step Change
  • More to life

Tough to mortgage home titles can include properties will be assessed for flood risk, ground rent where the lease or any deed varying the lease provides for a ground rent exceeding, or where the escalating provisions would result in the ground rent exceeding £250 per annum (or £1000 per annum where the property is in Greater London), properties of non-standard construction, thatched buildings and Airey, Boot, Cornish Unit, Dorran, Dyke, Gregory, Hamish Cross, Myton, Newland, Orlit and Parkinson Frame.

  • Canada Life Equity Release Schemes
  • Hodge Lifetime Mortgage Plus
  • TSB Lifetime Mortgage
  • Age Partnership Equity Release Plans
  • Aviva Equity Release Plans
  • Bridgewater Lifetime Mortgage
  • Hodge Equity Release Schemes
  • Just Retirement Equity Release Schemes
  • Pure Retirement Classic Drawdown Lite Plan
  • Lloyds Bank Lifetime Mortgage
  • More 2 Life Tailored Choice Plan
  • Belfast Equity Release
  • Saga Equity Release Schemes
  • Aviva Lifetime Mortgages
  • More to Life Capital Choice Plan
  • Pure Retirement Equity Release Schemes
  • Stonehaven Equity Release Scheme
  • Nationwide Equity Release Schemes
  • NatWest Lifetime Mortgage
  • L&G Legal & General Flexible Plus Lifetime Mortgage
  • Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
  • More to Life Capital Choice Plus Plan
  • Nationwide Equity Release Schemes
  • TSB Equity Release Schemes
  • Saga Equity Release Schemes
  • Belfast Equity Release
  • More 2 Life Flexi Choice Voluntary Payment Super Lite
  • Age Partnership Equity Release

Challenging to finance home variants include grade ll Listed houses (grade C in Scotland and B2 in Northern Ireland), properties with a single annexe or other self-contained part of the property, grades l and ll* Listed Buildings in England & Wales (Grades A and B in Scotland; A, B+ and B1 in Northern Ireland), properties that have solar farms or a large number of wind turbines on the land and properties which have been built on a previously contaminated land are acceptable provided the result of an environmental search determines the land to be clear of contamination.

Canada Life Home Finance lifetime mortgage for properties in Scotland

Difficult-to-finance property variants can include difficult roof structures, properties with spray foam insulation applied to the underside of the roof, steel frame/clad properties built before 1990, studio flats outside the M25 and freehold flats (England, Wales, Northern Ireland).

Legal & General - Premier Flexible Black

Difficult-to-finance property types can include poorly maintained at the time of the valuation inspection, age-restricted properties, right to buy – properties in England, Wales and Northern Ireland, properties which are made up of multiple titles and properties with leased solar panels.

More to life  - Flexi Choice Lite

Some of the most popular LTV ratios of Aviva mortgages for 60 plus, Direct Line mortgages for pensioners over 60, Leeds Building Society later life interest-only mortgages over 60, Coventry Building Society later life interest-only mortgages over 60, Newcastle Building Society mortgages for over the 70s and Cumberland Building Society later life interest-only mortgages over 70 are 45%, 55% and 70%.

Pure Retirement - Classic Lite

Retired small business owners who may be interested in lifetime mortgages

  • Wholesale of textiles Peterlee
  • Repair and maintenance of ships and boats Wainfleet All Saints
  • Manufacture of machinery for paper and paperboard production in North Walsham
  • Market research and public opinion polling Irthlingborough
  • Factoring Ossett

Aviva Retirement Mortgages

Hodge Lifetime Mortgages

Legal and General Drawdown Lifetime Mortgages

More to life

LV Drawdown Lifetime Mortgages

Drawbacks of Belfast Equity Release

A lifetime mortgage with a flexible drawdown cash release can reduce the value of your estate. Interest-only lifetime mortgages may impact the ability to get state benefits. You may need to pay a valuation fee and be exposed to changes in interest rates with some products.

Towns of the UK where equity release is common

  • Felixstowe
  • Cowes
  • Smethwick
  • Skegness
  • Middlesbrough
  • Newmarket
  • Stainforth
  • Moreton-in-Marsh
  • Redhill
  • Bulwell
  • Sherborne
  • Ottery St Mary
  • Romford
  • Ramsgate
  • Southwell
  • Ramsey
  • Thame
  • Lynton & Lynmouth
  • Reepham
  • East Ham
  • Shifnal
  • Helmsley

Standard loan-to-value percentages of Liverpool Victoria later life interest-only mortgages over 70, More to Life interest only mortgages for people over 60, One Family mortgages for people 60 plus, Yorkshire Bank lifetime mortgages for over 60s, Metro Bank mortgages for people over 50 and Axa over 60-lifetime mortgages are 50%, 60% and 65%.

A Deep Dive into Lifetime Mortgage Interest Rates and Equity Release Rates in Northern Ireland and Lancashire

Equity release is a significant decision, and with the array of products and interest rates available, it’s crucial for homeowners in the UK, especially Northern Ireland and Lancashire, to grasp the essentials.

The Basics of Equity Release

At its core, equity release offers homeowners aged 55 and above, hence the term 55 plus equity release, the chance to unlock the value tied up in their property without having to move. It has become a popular method for many to supplement their retirement income, settle debts, or even help family members.

Types of Equity Release Schemes

There are two main types:

  1. Lifetime Mortgages: This is a loan secured against your home which does not need to be repaid until you pass away or move into long-term care. The interest can either be paid or, more commonly, rolled up with the loan.
  2. Home Reversion Plans: Not as common, this involves selling a part or all of your property to a reversion company for a lump sum or regular payments, while retaining the right to live there rent-free.

Factors Influencing Equity Release Interest Rates

The equity release calculator BBC tool, among other online resources, provides an estimate of how much you can borrow. However, actual rates depend on several factors:

  1. Age: The younger you are, the less you can typically borrow, given the potential longevity of the loan.
  2. Property Value: Naturally, a more valuable property can secure a larger loan. Special considerations apply in some cases, like if you’re wondering if can you get equity release on a retirement flat.
  3. Health: Some providers might offer enhanced terms for those with medical conditions or lifestyle factors.
  4. Market Conditions: As with any loan, external economic factors play a role. Thus, keeping an eye on indicators like the equity release Northern Ireland trends, or the broader equity release in Northern Ireland metrics, can help homeowners time their decisions.

Spotlight on Northern Ireland and Lancashire

Equity Release in Northern Ireland

Equity release has seen a surge in Northern Ireland, partly due to the unique property market and economic conditions. Terms like mortgages Northern Ireland, Northern Ireland mortgage, and mortgage brokers Northern Ireland have been gaining traction in online searches. Platforms like on your behalf radio ulster discuss financial topics, and there’s increasing interest in subjects like equity release Northern Ireland and equity release in Northern Ireland.

Lancashire’s Financial Landscape and Equity Release Belfast

In Lancashire, equity release has been growing steadily, with many seeking independent advice from places like life expert Belfast or using tools like the ni reversal calculator to understand their potential borrowing power.

Seeking Expert Advice for Belfast Lifetime Mortgages

For many, navigating the world of equity release requires professional guidance. With terms such as equity release adviser and equity release advisor often used interchangeably, it’s essential to clarify the distinction:

  1. Adviser vs Advisor: While both terms often refer to professionals providing advice on equity release, “adviser” is the official FCA designation, backed by qualifications like the FCA qualification uk or the diploma for financial advisers, commonly abbreviated to dip.
  2. Financial Planning: Beyond equity release, holistic financial planning is gaining prominence. With resources like financial planning solutions, professionals emphasize why financial planning is important, helping clients understand the broader importance of financial planning.
  3. Local Expertise: Seeking advice from professionals familiar with local conditions can be invaluable. This could involve consulting a financial advisor Derry if you’re based in Derry or a financial advisor Belfast if Belfast is your home. Similarly, if you’re considering a mortgage, reaching out to a mortgage advisor in Lisburn or a mortgage broker in Belfast can provide insights tailored to those specific regions.

Top Equity Release Providers and RIO Mortgages Belfast

While there are numerous equity release companies in the UK, the question of which is the best equity release company looms large for many potential borrowers. Some known names include l & G Equity Release, but as with any financial decision, it’s essential to shop around and consult independent sources. Reviews, like key equity release complaints, can provide a candid look at user experiences.

When considering companies, factors like the best equity release deals and transparent terms should be top of mind. There are tools and resources, such as equity release advisers near me searches, that can help homeowners find the best local professionals for guidance.

As with any financial decision, there are potential pitfalls to be wary of:

  1. Understanding the Costs: Beyond the interest rate, there may be other associated costs. It’s crucial to ask providers about potential fees or charges.
  2. The Long-term Impact: Equity release reduces the value of your estate, which can impact any inheritance you might wish to leave.
  3. Negative Equity: Some plans come with a “no negative equity guarantee”, meaning you’ll never owe more than your home’s value. Still, understanding terms like negative equity ni is essential to avoid unexpected pitfalls.
  4. The Catch: Many ask, what is the catch with equity release? While it offers many benefits, understanding the long-term implications is essential. It’s not a decision to be taken lightly.

Equity Release Belfast

As the UK’s population ages and property values continue to rise, the demand for tools to unlock this capital will only grow. Whether homeowners seek equity release in Northern Ireland, equity release in Lancashire, or any other region-specific solution, the core tenets remain: understand the product, seek expert advice, and consider the long-term implications. Armed with this knowledge, they can make informed decisions that serve their financial needs both now and in the years to come.

Popular LTV percentages of Lloyds Bank mortgages for over 50-year-olds, Barclays mortgages for 60 plus pensioners, Post Office equity release schemes for over 55’s, Legal & General later life borrowing schemes over 55, Bank of Scotland mortgages for people over 50 and Nationwide BS remortgages for people over 50 years old are 40%, 60% and 70%.

Equity Release LTV examples similar to Belfast Equity Release

  • 50% home reversion schemes Maximum cover Belfast Equity Release
  • 50% LTV lumpsum lifetime mortgages Age Concern
  • 25% loan to value monthly payment equity release Spring Finance
  • 50% loan to value monthly payment equity release Paragon Personal Finance
  • 30% LTV lumpsum lifetime mortgages Bank of Ireland
  • 30% loan to value monthly payment lifetime mortgage Shawbrook

Popular pensioner finance products include TSB mortgages over the 70s, Barclays mortgages for people 60 plus, Halifax pensioner mortgages over 70s, L&G interest-only mortgages for over 65 years old, and Nationwide Building Society mortgages for 60 plus.